The comet. (Johnson City, Tenn.) 1884-1916, 1887-10-27
How to Stop the surplus.

Treasury but everybody is not agreed |
upon the way to put a stop to this
locking up of the money Of the coun-
try in the Treasury vaults. A num-
bel of plans are proposed.
/. Mr., Carlisle proposes, for the
revenue reGormers to remit taxation
by increasing the free list, making
duty free number Of raw materials,
such as wool, which now pay duty,
and also repeating the internal taxes
on tobacco.
2. Mr.. Randall proposes to repeal
and abolish the whole internal reven-
ue system, which would cut of at y
blow the entire surplus revenue.
Some prominent republicans favor
this plan also
3. A considerable number OF the
republicans in Congress seem to favor
the repeal OF the sugar duty and of
the tobacco tax, which also would
sweep away the surplus, or nearly so.
A. At the recent Bankers Conven-
ton at Pittsburg Mr. John J. Knox,
for many years Comptroller of the
Currency, developed aproposition to
refund the whole debt in two and
hall per cents, paying the present
holders out Of the surplus revenues a
cash premium for their consent. He
showed that the tax payers would gain
by this transaction, and he suggested
that during the three years which it
might be made to cover q plan could
be devised for reforming the revenue
laws.
5. A considerable part, probably a
majority, OF the republicans in Con.
gress agree with Senator Evarts that
the surplus taxation is only flea
bite not felt or complained Of by the
people; and they hold that the pres,
ent tax and tariff system shall be
maintained and that the surplus
when there is any, shall be spent fol
pensions, for coast defence, for inter
nal improvements and for public
buildings, and thus returned to the
peoples pockets aS fast as it is collect
ed. This view has good many
friends among the democrats also, ant
it will probably have the favor OF tn,
t labor party ard its representatives.
1t will be seen that there are reall,
) only two SETS of opinions On on,
t side are those who would stop colec
ting a surplus; on the other thos
: who would go on collecting it but u.s.
e it for public ends.
8 The difficulty with those who woul,
stop collecting surplus taxes is tha
Il they do not agree on the articles t
4 be struck from the present tax lis
u Some want to abolish the who'll
internal taxes; others want to strik
raw materials from the duty list
yet others propose to make suga
s free and repeal the tobacco tax. |
l, does not seem easy for these thre
s, sets Of philosophers to come to a
J. agreement, for each has an aftel
o thought and wants to accomplis
e something besides the reduction {
l. taxation.
e Similar differences exist anon
those who wish to maintain the pre-
ent system unchanged and spend tn
surplus receipts on what are calle
O. "works Of public utility" It's know
u % that the Grand Army will push vigo
N ously ut the coming session for d
i0 pendent pension bill, and there al
II people in the West who believe thi
o Il service pension act is in the near fl
0i ture A dependent pension bill woul
; swallow up the greater part OF I'll
W probable surplus, and it may be o
% posed for this reason by those WI
,, wish ior public buildings on larl
- scale, coast defences, more naval We
- sells and large internal improvement
Still, it is certain that those wi
want to spend the surplus can mo
- :, easily unite on plan than those wi
- indifferent ways, want to cut it o
" They have only to get together al
= a gree as to what proportion each W
:, be satisfied with, aud il they can th
:, pull all together they will present
very formidable force in both hous
many believe majority. On t
other side agreement seems impC
sible, unless it be to repeal the tobi
co taxes.
y The coming session promises to
80 one of the most lively and exciti
~ ~ since the war. The tariff reformC
80 81 have declared their intention to pu
" a bill making raw materials duty fl
y and to read out Of the democratic p
y, ~ ty all who oppose them, The repul
''' cans have planted themselves on "p
- lection, by which they mean
attendance of the present tar
The Grand Army has determined
NO. push a service pension bill, substi
80 TALLY that which failed to pass o
Ia the veto last session. There will be
- strong effort to establish postal t,
graph. The neonle who favor put